That form is fine to be used now. See the following at:
http://www.irs.gov/uac/Form-8854,-Initial-and-Annual-Expatriation-Statement
Expatriation tax provisions apply to U.S. citizens who have relinquished their citizenship and long-term residents who have ended their residency (expatriated). This form is used by individuals who have expatriated on or after June 4, 2004.